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The Davidson Challenge

Paul Davidson has, for a long time, been a stalwart of non-orthodox economics. He plugs away gamely proselytizing what is called Post-Keynesian thought. For those of you unaware of the nuances and differences within economics, the Post-Keynesians see themselves as the true keepers of Keynesian thought and disparage the more recent school of Keynesians gathered […]

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Housing Vagaries

My last post was headlined “Housing Climbing Back”. Oh well. So much for that. Today we learned that pending home sales fell for the first time in four months – the index that measures them dropped to 95.5 in April from March’s 101.1. So we are reduced, once more, to making brave statements about how […]

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Housing Climbing Back

I would be remiss if I passed on making a quick comment regarding real estate. The steady climb back continues. This is not a rapid recovery, but it is consistent and prolonged. Sales of existing homes rose 3.4% in April, making it the tenth straight month of growth, and bringing the level of activity to […]

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